Japan’s Kobe Steel will pay $700 million for a 70% interest in the business, CNH said Monday. The company, based in Basildon, England, now expects full-year adjusted earnings per share of 44 to 48 cents, up from its previous range of 41 to 46 cents. Analysts surveyed by FactSet had forecast 45 cents a share.

CNH said tariff refunds, related reinvestments and current market conditions are expected to have a modest net effect on its earlier guidance ranges. Chief Executive Gerrit Marx said the company reinvested about 35% of tariff refunds in the third quarter to clear aged inventory and accelerate its transformation.

Third-quarter profit was $35 million, or 2 cents a share, compared with $67 million, or 6 cents a share, a year earlier. Results primarily reflected a $156 million non-cash valuation allowance charge against deferred tax assets in Brazil. Adjusted earnings were 16 cents a share, beating the 10 cents analysts expected. The quarter included $109 million in pre-tax tariff refunds recognized during the period.

Revenue fell 1% to $4.35 billion, below analysts’ $4.52 billion estimate.